The breakdown of Dubinsky's contract is: $3.75 million in year one, $3.75 million in year two, $4.65 million in year three and $4.65 million in year four. He will have a cap hit of $4.2 million.

Dubinsky, 25, led the Blueshirts in goals, assists and points last season, but despite confidently stating his expectations for a quick new deal at the end of the season, negotiations dragged all the way up until this morning.

Dubinsky had been embroiled in a bitter holdout just two seasons ago, so many assumed that he had lost patience with the club and that perhaps the Rangers weren't completely convinced that Dubinsky was worth big money long-term.

All of the swirling rumors and assumptions can now be put to rest as the potential first-line left wing has re-upped with a deal that is very fair for both sides. Considering the contracts of comparable players, Dubinsky was well worth more than $4 million and that marks both a significant raise for Dubinsky as well as a compromise for both sides.

Now all eyes will be focused on Ryan Callahan, who is scheduled to go to arbitration next Thursday. Many believe that Callahan, like Dubinsky, will re-sign before his hearing.